Jelf, a consultant that specializes in insurance, risk management and employee benefits, announced it has reached an agreement to acquire Clark Thomson, Scotland’s largest independent insurance broker.
The transaction is expected to close in the second quarter of 2018. Terms were not disclosed.
Established in 1965, Clark Thomson is headquartered in Perth and has offices in Dundee, Glasgow, Inverness, Kirkwall, Oban, Elgin, Thurso, and Nairn. With over 200 employees, Clark Thomson provides insurance broking services to small and medium-sized (SME) businesses, with particular expertise in the agriculture, renewable energy, food and drink, and retail sectors across Scotland, as well as providing personal lines insurance for individuals and families.
A subsidiary of Marsh, Jelf is a leading UK insurance broker in the mid-size and SME company sector, with almost 3,000 colleagues serving over 250,000 clients from over 75 locations, noted Chipping Sodbury, England-based Jelf.
On completion, Jelf will combine its existing Scottish operations and Clark Thomson into a single business unit. Subject to regulatory approvals, the combined business will be led by Ben Bailey, managing director of Clark Thomson, and a management team drawn from across Clark Thomson and Jelf.
“This is a highly significant transaction that underlines Jelf’s commitment to building the leading community based advisory business across the whole of the UK,” said Phil Barton, CEO of Jelf.
“Through the acquisition of Clark Thomson, we are significantly broadening our geographic reach whilst also building on our capabilities in sectors that are vital to the Scottish economy, such as agriculture, food and drink, retail, and hospitality and leisure,” he added.
“The transaction brings together two leading community brokers with well-established offices in complementary locations across Scotland. The combined business will offer clients a compelling proposition across a wide range of insurance, risk management and employee benefits services and solutions,” Barton continued.
“This deal is great news for our clients and colleagues alike. Through Jelf, our clients will have access to a wider range of services and solutions, while colleagues will benefit from being part of Marsh’s wider global network,” commented Bailey. “I look forward to bringing Jelf and Clark Thomson’s operations together and building the leading advisory business in Scotland.”
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